QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,778 shares of the wireless technology company's stock after selling 4,622 shares during the period. Clifford Swan Investment Counsel LLC's holdings in QUALCOMM were worth $26,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Van Strum & Towne Inc. boosted its stake in shares of QUALCOMM by 39.0% in the first quarter. Van Strum & Towne Inc. now owns 23,424 shares of the wireless technology company's stock worth $3,598,000 after buying an additional 6,577 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of QUALCOMM by 2.2% in the first quarter. HighPoint Advisor Group LLC now owns 38,722 shares of the wireless technology company's stock worth $5,688,000 after buying an additional 818 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of QUALCOMM by 13.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 3,404 shares of the wireless technology company's stock worth $526,000 after buying an additional 403 shares during the last quarter. 4WEALTH Advisors Inc. boosted its position in QUALCOMM by 11.7% during the first quarter. 4WEALTH Advisors Inc. now owns 4,570 shares of the wireless technology company's stock worth $702,000 after purchasing an additional 479 shares in the last quarter. Finally, Aire Advisors LLC boosted its position in QUALCOMM by 97.4% during the first quarter. Aire Advisors LLC now owns 3,040 shares of the wireless technology company's stock worth $467,000 after purchasing an additional 1,500 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $2.92 during trading on Monday, reaching $157.72. The stock had a trading volume of 633,082 shares, compared to its average volume of 8,356,883. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24. The business's 50-day moving average price is $153.95 and its 200 day moving average price is $154.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market capitalization of $173.18 billion, a PE ratio of 16.06, a P/E/G ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.26%. QUALCOMM's dividend payout ratio is presently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $186.00.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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